Federal Government Announces Over $25 Million For New Rental Homes in Sault Ste. Marie

A solid and reliable supply of rental housing is critical to ensuring that more Canadians have access to housing that meets their needs. Today, the federal government announced over $25 million to build 108 rental homes in Sault Ste. Marie. The funding will come as a fully repayable low-interest loan through the Apartment Construction Loan Program. Located downtown at 110 Pim Street, the six-storey building will have 108 rental apartments for middle-class families and individuals. It will be completed by the spring of 2025.

Canada’s construction of rental homes has not kept pace with the country’s growing cities and population, leading to a decline in the existing and aging rental stock for decades. To tackle this issue, the federal government introduced the Apartment Construction Loan Program to help build more rentals across the country.

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